Author: chris

What might be some advantages of being first to market?

Chapter 5

The overall objective of this chapter is to give the reader a sense of the importance of the design stage of the product. It is at this stage of product development that costs are built in or eliminated from the product. Therefore it is crucial that purchasing and major players in the supply chain are involved in this process.

Vignette: An Opportunity at Elite Electronics?

What might be some advantages of being first to market?
What might be some advantages of following someone else to the marketplace?

Early supply management and supplier involvement

What are some benefits of getting supply management involved early in the

R & D stages of product development?

What happens when designers fail to consider the suppliers capabilities?

The process of designing and developing new products; with an emphasis on supply management’s role in the process

What are some objectives engineers try to reach in the design process?

What has to happen to ensure these objectives are successfully met?

What is the benefit of sharing initial thoughts on design with potential suppliers?

List and briefly define the steps in the ‘Concept Formation’ phase.

List and briefly define the steps in the ‘Development’ phase.

Explain the difference between value engineering and value analysis.

Which do you believe is most effective at reducing cost of product and why?

List and briefly define the steps in the ‘Production’ phase.

Engineering Change Management

This section refers generally to changes made to parts after the product has been in production. It is often the result of cost saving ideas coming out of a value analysis session. Changes to existing parts need to be managed to avoid being stuck with material already in house or on order, coordinate any changes in manufacturing dealing with machines used to make the parts, and coordinate with marketing/sales efforts in the field.

Several approaches to increasing supply management’s role in the new product development process

How can supply personnel gain the necessary skills and knowledge to be seen as contributors during new product development?

Select National Statistics for All Stays.

I will need this as soon as possible. At the latest before 7pm tonight.

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1. Using HUCPnet http://hcupnet.ahrq.gov/ , select National Statistics for All Stays. Perform a Query of Trends according to Specific diagnosis by Clinical Classifications Software. Select the Principal Diagnosis of HIV Infection and the mean number of stay. Write a narrative to explain the 1993-2006 trend. 2. Using the same process as above, select Principal Diagnosis of Stomach Cancer and deaths in hospital. Save data results as Excel spreadsheet and submit.

Briefly describe the planning process. In your description, include summaries of strategic, operating, and financial plans.

Simple and easy to understand answers but detailed as well.

 

  • 6.1

Why are planning and budgeting so important to an organization’s success?

  • 6.2

Briefly describe the planning process. In your description, include summaries of strategic, operating, and financial plans.

  • 6.4

How are the revenue, expense, and operating budgets related?

  • 6.7

What is variance analysis?

  • 6.8

Explain the relationship between a simple budget and a flexible budget.

 

  • 7.1

What is the revenue cycle? Why is it important to healthcare organizations?

  • 7.2

What is a receivable? Explain how receivables are built over time.

  • 7.4

What is aging schedule? How is it used to monitor a firm’s accounts receivable?

  • 7.5

 

What is the goal of cash management?

What was the hospital’s original profit forecast?

The subsequent two spreadsheets provide workload (expressed as relative weighted products (RWPs) for inpatient care), revenue, and expense data for Schumpert Medical Center covering their fiscal years 2010 and 2011. The data includes FY10 actual workload, revenues, and expenses; FY11 forecasted workload, revenues, and expenses; and FY11 year-to-date workload, revenues, and expenses. The Inpatient Product Lines worksheet provides further details on the types of services provided within each major service line. Using the available data, perform a variance analysis on Schumpert Medical Center and answer the following questions:

1. What was the hospital’s original profit forecast (assume away any issues with depreciation, taxes, etc.)? Halfway through the fiscal year, what is the hospital’s revised projection for FY11 profits?
Answer:
2. Which inpatient service lines are overbudget? Which product lines are overbudget after accounting for workload increases?
Answer:
3. What actions would you take at the mid-year point if you were a fee-for-service hospital? In other words, where are the problem areas on which you would focus your attention, and who might provide ideas for “best practices” based on their performance?
Answer:
4. What actions would you take at the mid-year point if you were a capitated hospital? In this case, the revenue spreadsheet would be replaced with an overall budget of $50 million with which to operate (rather than being able to bill for each episode of patient care). Federal, state, county, and city hospitals normally operate under a capped budget. Additionally, many HMOs also operate under a fixed Per Member, Per Month (PMPM) capitated process.

Answer:

Revenues Worksheet, Mid-Year Review

Inpatient
Inpatient Product Line Price/RWP Forecasted RWPs
For FY11 Projected IP Revenue
For FY11 Actual RWPs
(FY11 YTD) Actual IP Revenue
(FY11 YTD)
CIRC $ 6,010.65 724 $ 4,351,711 421 $ 2,530,676
DIGEST $ 6,021.65 1,161 $ 6,988,125 636 $ 3,830,402
ENT $ 6,001.65 130 $ 780,215 72 $ 433,948
GYN $ 6,013.65 219 $ 1,313,983 116 $ 697,128
MENTAL HEALTH $ 502.99 1,351 $ 679,539 736 $ 369,949
NERVOUS $ 6,103.65 228 $ 1,391,632 112 $ 682,744
NEWBORN $ 7,014.71 733 $ 5,141,782 433 $ 3,033,900
OB $ 5,713.65 1,501 $ 8,576,189 868 $ 4,960,622
ORTHO $ 6,084.18 631 $ 3,839,118 274 $ 1,664,658
OTHER $ 6,018.14 2,152 $ 12,951,037 800 $ 4,813,961
RESP $ 6,118.73 677 $ 4,142,380 197 $ 1,202,960
Total Inpatient Earnings 9,506 $ 50,155,710 4,664 $ 24,220,949

Expenses Worksheet, Mid-Year Review

Inpatient
Inpatient Product Line Budget/RWP
(FY10) Actual RWPs
(FY10) IP Expenses
(FY10) Forecasted RWPs
(FY11) FY11 Budget
(FY10+6% Inflation) Actual RWPs
(FY11 YTD) Actual IP Expenses
(FY11 YTD)
CIRC $ 5,475.81 690 $ 3,778,309 724 $ 4,202,356 421 $ 2,472,822
DIGEST $ 5,476.81 1,105 $ 6,051,875 1,161 $ 6,737,188 636 $ 4,356,173
ENT $ 5,477.81 124 $ 679,248 130 $ 754,842 72 $ 462,822
GYN $ 5,478.81 208 $ 1,139,592 219 $ 1,268,947 116 $ 777,322
MENTAL HEALTH $ 498.78 1,287 $ 641,930 1,351 $ 714,283 736 $ 400,730
NERVOUS $ 5,478.81 217 $ 1,188,902 228 $ 1,324,119 112 $ 675,173
NEWBORN $ 5,478.81 698 $ 3,824,209 733 $ 4,256,926 433 $ 2,971,020
OB $ 5,478.81 1,430 $ 7,834,698 1,501 $ 8,717,115 868 $ 5,472,892
ORTHO $ 5,478.81 601 $ 3,292,765 631 $ 3,664,557 274 $ 1,771,063
OTHER $ 5,478.81 2,050 $ 11,231,561 2,152 $ 12,497,823 800 $ 4,662,277
RESP $ 5,478.81 645 $ 3,533,832 677 $ 3,931,704 197 $ 1,233,771
Total Inpatient Expenses $ 43,196,922 9,506 $ 48,069,860 4,664 $ 25,256,062

Ann and Carol are driving their cars along the same straight road. Carol is located at x=2.4mi at t=0 hours and drives at a steady 36mph. Ann, who is traveling in the same direction, is located at x=0.0mi at t=0.50 hours and drives at a steady 50 mph.At what time does Ann overtake Carol?

Ann and Carol are driving their cars along the same straight road. Carol is located at x=2.4mi at t=0 hours and drives at a steady 36mph. Ann, who is traveling in the same direction, is located at x=0.0mi at t=0.50 hours and drives at a steady 50 mph.

At what time does Ann overtake Carol?

What is their position at this instant?

Why are planning and budgeting so important to an organization’s success?

NEED THIS DONE BY 9PM – OCTOBER 4TH. IT IS 6:07PM RIGHT NOW.

 

Simple and easy to understand answers but detailed as well.

 

  • 6.1

Why are planning and budgeting so important to an organization’s success?

  • 6.2

Briefly describe the planning process. In your description, include summaries of strategic, operating, and financial plans.

  • 6.4

How are the revenue, expense, and operating budgets related?

  • 6.7

What is variance analysis?

  • 6.8

Explain the relationship between a simple budget and a flexible budget.

 

  • 7.1

What is the revenue cycle? Why is it important to healthcare organizations?

 

  •        7.2

What is a receivable? Explain how receivables are built over time.

7.4

What is aging schedule? How is it used to monitor a firm’s accounts receivable?

7.5 What is the goal of cash management?

Discuss I.T. as a differentiating factor in the organization(s) for which you worked.

This week we will be discussing I.T. as a differentiating factor in the organization(s) for which you worked. First you will read Mr. Carr’s “IT Doesn’t Matter” article, accessible Here http://www.informatik.umu.se/digitalAssets/141/141283_mis-it-doesnt-matter.pdf Then you’re to think about organization(s) for which YOU have worked**, and respond using the criteria below:

  • Think how information technology (IT) was used in the organizations you have worked for.
  • Referring to the Carr article, identify three (3) concepts in the article that you can relate back to your workplace(s). Concepts may be any ideas that Mr Carr brought forth that resonate with you, you agree with or you disagree with.
  • The three concepts you identify can relate to the SAME organization you worked for, or to one or more organizations.
  • All 3 of the concepts must tie in with IT.
  • In each case, you do not need to give the name of the organization but do identify its sector (i.e., retail, food services, etc).
  • Be clear in your response, numbering your 3 concepts so that I (and your classmates) can pick them out easily.
  • Finally add a sentence or two telling me whether you feel Mr. Carr’s thoughts are more true today (in 2015) or when he wrote it (2003).